Published on 9/20/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.49 million trigger autocallable contingent yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 20 – Morgan Stanley Finance LLC priced $2.49 million trigger autocallable contingent yield notes due Sept. 14, 2028 linked to the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each index closes at or above its coupon barrier, 64.4% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless any index finishes below the 64.4% downside threshold, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50, S&P 500, Russell 2000
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| Amount: | $2,491,000
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| Maturity: | Sept. 14, 2028
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| Coupon: | 9%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after one year
|
| Payout at maturity: | Par unless any index closes below downside threshold level, in which case will lose 1% for each 1% decline of the least-performing index from initial level
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| Initial levels: | 3,311.66 for Stoxx, 1,718.404 for Russell, 2,887.89 for S&P
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| Coupon barrier/thresholds: | 2,132.71 for Stoxx, 1,106.652 for Russell, 1,859.8 for S&P; 64.4% of initial levels
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| Pricing date: | Sept. 11
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| Settlement date: | Sept. 14
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| Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61768T134
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